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Shopping centre owner Intu Properties, which counts Manchester’s Trafford Centre and Lakeside in Essex in its portfolio, said this week it had received less than one-third of UK quarterly rents it was due. As a result, it warned of a breach of its upcoming debt covenants.

The government has also announced protection from eviction for commercial tenants unable to pay their rental instalments over the coming three months. However, the protection does not stretch to the June quarter for which Footasylum is requesting a rent holiday.

As retailers today face the quarter-year rent deadline, Drapers provides a rundown of the rent concessions requests already put to landlords as a result of the coronavirus crisis.

Readers' comments (1)

Anonymous30 March 2020 8:33 am

Surely this is the moment in time to move all rental agreements to monthly rather than quarterly.Also, now carry out the overdue business rates review for the High Street, that makes sense & is proportionate to the rents that will actually be paid, going forward.

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